SPIRO Bets on African Growth with Major Funding Boost for Clean Transport

Electric mobility company SPIRO is set to deepen its footprint across Africa after securing a $215 million equity investment aimed at scaling its operations and strengthening its position in the continent’s growing clean transport sector.

The funding will be used to expand the company’s electric motorcycle ecosystem through the development of additional battery-swapping infrastructure, increased production capacity, technological upgrades and expansion into new markets.

The Democratic Republic of Congo and Ethiopia are among the countries targeted in the next phase of growth.

The investment, backed by institutional investors including Impact Fund Denmark and Equitane, comes as SPIRO seeks to build on its presence in seven African countries. The company already operates in Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon, where it has established a network of 2,500 battery-swap stations and deployed 100,000 electric vehicles.

The latest capital injection reflects rising interest in businesses that combine commercial viability with environmental sustainability. SPIRO says its model is designed to make electric mobility accessible while reducing transport costs for riders who rely on motorcycles for daily income.

According to the company, riders using its electric motorcycles can significantly lower operating expenses compared to conventional petrol-powered bikes, helping improve earnings while reducing dependence on fuel.

The company is also positioning itself as a contributor to climate action efforts. Findings from a lifecycle assessment conducted in Kenya showed substantial environmental gains from the use of its electric motorcycles, including lower carbon emissions and reduced environmental pollutants compared to fossil-fuel alternatives.

As part of its regional strategy, SPIRO has established manufacturing facilities in Kenya, Rwanda and Uganda, while Nigeria hosts its battery recycling operations. The company is also broadening its clean-energy portfolio through investments in solar-powered battery-swapping facilities and battery storage solutions using repurposed batteries.

Investors backing the deal say the company presents a combination of growth opportunities and measurable environmental benefits, reinforcing confidence in the future of electric mobility across Africa.